Exchequer is ideal for any SME company in the construction and allied industries that employs sub-contracted employees, who are responsible to the Inland Revenue to account for tax deductions at source.

CIS/RCT certificates that, depending on the certificate type, entitle the sub-contractor to receive payments from the contractor either Gross or Net of CIS/RCT tax deductions are easily handled by Exchequer Enterprise.

 

The CIS/RCT module has five basic functions:

• To report on all payments to sub-contractors by the contractor over a given period of time
• To automatically withhold tax from those sub-contractors who are registered as being taxable
• To generate vouchers (CIS/RCT Certificates) for each sub-contractor of all payments made and tax withheld for their own records
• To report on all tax withheld for sub-contractors by the contractor over a given period of time
• To provide pertinent CIS/RCT statutory information for reporting to the revenue authorities